whats better for me to refinance? lowering rate
my home is on a fha 30year fixed and 6%. i want to refi for a lower rate - dont need any equity out, not looking to shorten the mortgage length. i know of the fha streamline but do i have any other or better options for 65% ltv and 711 fico?
Len Herbert (LenHerbert)
#124 ranked lender in New Jersey - 10 contributions
Hello. A better option would be just to go with a conventional loan because you can then stop paying the mortgage insurance.
Michael Umbro (mumbro)
#115 ranked lender in New Jersey - 2 contributions
Based on an LTV of 65% and a 711 credit score you should be eligible for a conforming loan. You will need to prove your income to qualify as well.Please call me at 732 759 8189 x104 to discuss.Mike Umbro
Mark Wilkins (mwilkins)
#11 ranked lender in Pennsylvania - 7 contributions
Yes, with that LTV and credit score you will be best to do a conventional Rate and Term Refinance.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Try a conventional loan.. with 65% LTV, you wont pay any monthly mortgage insurance, and there is no upfront MI required either.. Loans under $100K are difficult to do.. loans under $50K near impossible. A community bank / credit union is most likely your best option.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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